workers there build ships for the u.s. navy. he said hundreds of thousands of jobs could be lost in virginia alone. the mandated cuts in defense and other areas were postponed when congress discussed a so-called fiscal cliff in december. congress has not come up with any measures to deal with deficits. and unless concessions are made, americans will have to bear the brunt of $85 billion in budget cuts. let's take a look at the markets now. first getting a check of ocks. tokyo stock prices are trading lower today. market watchers say investors remain concerned about italy's fiscal restructuring. meanwhile, sentiment is somewhat supported by tuesday's u.s. stock market gains as housing data exceeded market expectations. the nikkei, though, at the moment down over .8% at 11,302. that is down .8% from tuesday's close. now let's take a look at the currency markets, see what's happening there. now, the dollar is trading just slightly higher against the yen. sources say market players a buying the dollar due to an optimistic view on th